Origination

Rep. Maxine Waters pressed executives from City National Bank, PNC Financial Services and Wells Fargo on opening branches in her California district and upholding promises made from recent merger agreements or consent orders.

Real estate finished November as the second best performing group in the S&P 500 Index adding 12%, trailing slightly behind tech's 13% gain. The momentum was fueled by bets the central bank may begin cutting rates as early as next year.

Affordability decreased during the month across all racial groups and loan types tracked by the Mortgage Bankers Association.

The incentives are part of a broader set of Federal Housing Administration servicing changes for Home Equity Conversion Mortgages that also offers some new options for procedures.

The National Association of Realtors' index of contract signings to purchase previously owned homes declined 1.5% to 71.4, the lowest in data back to 2001, the group reported Thursday.

The 30-year average declined for the fifth consecutive week, as purchase demand picking up at the same time, according to Freddie Mac.

Kenon Chen, executive vice president, strategy and growth, at Clear Capital, discusses data sourcing that can best serve the mortgage and underwriting process and how it can be done in an ethical way to achieve maximum benefit.

The trend exists in all past-due categories for subprime mortgages, but the numbers are still below levels seen just before the pandemic, Vantagescore found.

The top five lenders have a combined retail home loan volume of more than $26 billion at the end of Q3 2023.

Under the proposal, the maximum allowable rehabilitation costs for the agency's limited program will rise to at least $50,000 to account for increases in repair expenses.